What is characteristic of a schedule/open-ended release settlement?

A schedule or open-ended release settlement is characterized by the stipulation that compensatory damages are paid until a settlement is reached. This means that the agreement allows for continuous payments throughout the process as the injured party recuperates, rather than settling the claim in a one-time payment. This type of settlement provides flexibility for managing ongoing costs associated with an injury, allowing the claimant to receive funds for medical expenses, lost wages, and other damages as they arise until the negotiation concludes.

The other options do not accurately represent the nature of a schedule/open-ended release settlement. While the settlement can cover various types of damages, it is not limited to property damage alone. Additionally, insurers typically make payments as incurred rather than only after the resolution of the case, which contradicts the notion of an open-ended settlement that allows for pre-determined compensatory payments during the claims process. Furthermore, this type of settlement structure is not specifically reserved for catastrophic claims, as it can be applicable in a variety of situations depending on the circumstances of the claim.